The Buyer's Representative Role
A real estate buyer's agent represents the buyer who is purchasing property in a real estate transaction. The buyer's representative works for, and owes fiduciary responsibilities to, the real estate buyer and has the buyer's best interests in mind throughout the process.
A Buyer's Agent should:
Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
Assist the buyer in determining the maximum amount of home they can purchase based on the buyer's pre-approval, and show the buyer the best selection of properties in that price range.
Accompany the buyer on a private tour of the selected homes, or preview the properties on behalf of the buyer, to ensure the required specifications are met.
Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.
Advise the buyer on structuring an appropriate offer to purchase the selected property.
Present the offer to the seller's agent on the buyer's behalf.
Negotiate the best price and terms on behalf of the buyer to help obtain the selected property, always keeping the buyer's best interests in mind.
Assist in securing appropriate financing for the selected property by providing contact with a number of mortgage brokers and lenders.
Provide a list of potential vendors (attorneys, accountants, repair and construction contractors, movers, etc.) if these services are needed.
Most importantly, thoroughly and consistently communicate with the buyer and fully represent them throughout the entire transaction.
Read the Oregon Property Buyer Advisory provided by the Oregon Association of Realtors here.